Siemens has decided to make an investment of Rs 16 billion by 2013 for venturing into wind turbine manufacturing and lifting subsisting production capacity.

Moreover, the company also aims to increase its head count in the country to 25,000 by 2012 from 17,000 currently to meet up its growth intentions.

Out of the total investment, around Rs 500 crore would be utilized for establishing a high end technology wind turbine manufacturing plant in India.

Mr. Armin Bruck Siemens Managing Director (India), said, "We will venture into wind turbine manufacturing ... we have identified 2-3 sites in Tamil Nadu and Gujarat and we are in discussions with the respective state governments for setting up the wind turbine plant ... we will decide on the exact location in 2-3 weeks."

The plant would be functional by next two years and will manufacture turbines with capacity of 200 MW per year at first.

Without giving further information, Mr. Bruck added that recognizing great business chance in the energy segment in India, the company also eyes to have presence in solar power.

The remaining investment will enter r&d activities in addition to growing manufacturing capability for its products in signaling and metal technologies and healthcare solutions.

At 3:28 pm, the shares of the company declined 2.0% to trade at Rs 644.10 on the BSE. The share price has seen a 52-week high of Rs 677.50 and a low of Rs 190.35 on BSE.

Current EPS & P/E ratio of the stock stood at 22.09 & 29.16 respectively.